How to Buy a Business That Will Replace Your Income (In Year One)

Episode #1281 Baselane: Automate your real estate finances with banking and AI-powered bookkeeping. Claim your $100 bonus! https://www.baselane.com/lp/bigger-pockets/?utm_source=bigger_pockets&utm_campaign=bigger_pockets&utm_medium=YT-M What if, today, *you could “buy” a $500K/year income stream* ? You could *replace your salary.* You could become the boss immediately and reach *financial freedom* faster. It’s not a gimmick, it’s not a scheme, it’s something much more boring than that. In this episode, we’re talking about *how to buy a business,* especially *small businesses,* with Acquiring Minds’ *Will Smith.* Will spends his days interviewing the *overlooked, but highly profitable, business* owners who do exactly what we’re talking about today—find a boring business, buy it, improve it, profit, and repeat. Even the small businesses Will mentions can earn their owners hundreds of thousands of dollars per year. *So, how do you get in on it?* Will breaks down who should buy one of these businesses, where to find businesses for sale, how much they sell for, the *returns you can expect,* and the *best business types to buy.* *Dave is heavily considering buying a business* to complement his real estate portfolio. And after this episode, you’ll probably be feeling the same. Episode Show Notes: https://lnk.to/biggerpocketsYT Join BiggerPockets for FREE 👇 https://www.biggerpockets.com/signup?utm_source=owned_media 🎉Join us at the BiggerPockets Conference October 2-4 in Orlando. Buy tickets: https://biggerpockets.com/bpcon2026 Let Us Know What You Thought of the Show! https://www.BiggerPockets.com/Podcastfeedback Grab the Best-Seller, _Traction: Get a Grip on Your Business_ : https://store.biggerpockets.com/products/traction-get-a-grip?utm_source=youtube&utm_medium=description&utm_campaign=none Sign Up for the BiggerPockets Real Estate Newsletter: https://www.biggerpockets.com/email-subscribe?utm_source=youtube&utm_medium=description&utm_campaign=none Find Investor-Friendly Lenders: http://biggerpockets.com/findlenders Everything You Need to Know Before You Buy a Business: https://www.biggerpockets.com/blog/money-517?utm_source=youtube&utm_medium=description&utm_campaign=none Connect with Dave: https://www.biggerpockets.com/users/davem27?utm_source=youtube&utm_medium=description&utm_campaign=none 00:00 Intro 03:05 “ETA” Explained 06:07 DON’T Build a Business 10:01 Will’s New Business 13:17 Sponsor: Baselane! 14:12 How Much Money It Makes 18:12 WHO Should Buy Businesses? 23:15 Best Business Types to Buy 28:10 How to Buy a Business (Beginners) 33:21 How Hard is This? 35:40 A More Passive Option 38:31 Learn More from Will!